Day-To-Day Monetary Policy and the Volatility of the Federal Funds Interest Rate:
Gespeichert in:
Bibliographische Detailangaben
Beteilige Person: Prati, Alessandro (VerfasserIn)
Format: Elektronisch E-Book
Sprache:Englisch
Veröffentlicht: Washington, D.C International Monetary Fund 2000
Schriftenreihe:IMF Working Papers Working Paper No. 00/206
Links:http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
http://elibrary.imf.org/view/IMF001/01560-9781451874594/01560-9781451874594/01560-9781451874594.xml
Abstract:We propose a model of the interbank money market with an explicit role for central bank intervention and periodic reserve requirements, and study the interaction of profit-maximizing banks with a central bank targeting interest rates at high frequency. The model yields predictions on biweekly patterns of the federal funds rate's volatility and on its response to changes in target rates and in intervention procedures, such as those implemented by the Federal Reserve in 1994. Theoretical results are consistent with empirical patterns of interest rate volatility in the U.S. market for federal funds
Umfang:1 Online-Ressource (29 p)
ISBN:1451874596
9781451874594